The allotment status of the Vishal Nirmiti IPO, a ₹178 crore initial public offering by a civil engineering and construction company, will be finalized on Tuesday, October 6. Investors can check the allotment status online through the websites of the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and MUFG Intime India. This article explains how to check the status and provides key details about the IPO.
- The IPO raised ₹178 crore through a fresh issue and an offer-for-sale.
- The issue was subscribed 1.71 times overall.
- Allotment status will be available on NSE, BSE, and MUFG Intime India websites.
- Shares will be listed on NSE and BSE on October 8 at 10 am.
What is the Vishal Nirmiti IPO?
Vishal Nirmiti is a company engaged in civil engineering, manufacturing, and construction. The IPO consisted of a fresh issue of 65.91 lakh shares worth ₹145 crore and an offer-for-sale (OFS) of 15 lakh shares valued at ₹33 crore by the promoter, Vaman Prestressing Company. The total amount raised was ₹178 crore.
The fresh issue aims to fund working capital needs, repay loans, and support general corporate purposes. The company believes that listing its shares will enhance its corporate image, brand name, and create a public market for its equity shares in India. It will also facilitate easier and more affordable financing for future expansion or diversification.
How was the IPO subscribed?
The IPO received bids for 1,44,46,804 shares against an offer of 84,71,153 shares, resulting in a subscription rate of 1.71 times. The subscription details by category are:
- Non-Institutional Investors (NIIs): 1.81 times subscribed
- Retail Individual Investors (RIIs): 1.67 times subscribed
- Qualified Institutional Buyers (QIBs): 1.27 times subscribed
How to check the Vishal Nirmiti IPO allotment status online?
Investors can check the allotment status after it is finalized on October 6 by visiting the official websites of NSE, BSE, or MUFG Intime India. They will need to enter their application details such as PAN number, application number, or DP/client ID to view the allotment status.
Checking the status online is simple and provides timely information about the number of shares allotted to each investor. It is important to verify the allotment before the shares are credited to the demat account.
When will Vishal Nirmiti shares be listed?
The shares of Vishal Nirmiti will be listed on the NSE and BSE on Thursday, October 8, at 10 am. Once listed, investors can trade the shares on these stock exchanges.
What products and services does Vishal Nirmiti offer?
Vishal Nirmiti manufactures and sells pre-stressed concrete (PSC) sleepers for railways, pre-cast and pre-stressed concrete products. The company also fabricates mild steel pipes, liners, and pre-stressed pipes used in pumped storage projects.
Additionally, Vishal Nirmiti provides engineering, procurement, infrastructure, and construction services for railway infrastructure and various civil engineering, irrigation, and infrastructure projects.
